The youth of our nation are currently losing their jobs and struggling to get government employment as a result of the intense competition that is growing as time goes on. As a result, in this circumstance, we must work to pay for our home and family’s costs. We now live in a time when we can access any information online at any time and carry out any task from anywhere. In the same way, you may use your Aadhaar card to apply for a loan of up to one lakh while you’re sitting at home. Because we are aware that anyone, at any time, may need a loan.
Each and every member of the nation is given an Aadhaar card, which contains a special identification number. It must be submitted as one of the most significant documents for a variety of reasons. It is required for all Indian citizens to have an Aadhaar card because it serves as identification documentation. Those who refuse to provide an Aadhaar card or who do not own one may have their access to a variety of activities restricted.
How to take a loan from aadhar card?
To take a loan of 1000 to 1 lakh rupees from an Aadhaar card, you have to apply for an Aadhar Card Loan Online. You only need to complete an online personal loan application and enter your Aadhaar number to apply for a personal loan using your Aadhar card. You don’t need to upload additional papers if your PAN and bank account are connected to your Aadhaar card. You only need to provide the lender permission to do background checks using your Aadhar card, along with verification of your address and income. The personal loan will be granted if you pass the eligibility and verification procedures, and the money will be deposited to your account within a few days, if not sooner.
How to Apply for A Loan on an Aadhaar Card?
- Way: Website, Apps, Bank
- Check Eligibility: Provide a few basic details to check your eligibility in just 2 mins.
- Choose Your Loan Amount & Repayment Period: Pick Your Loan Tenure.
- Upload Documents: Complete your KYC and Verify income.
- Amount Credited: Direct Bank A/c transfer in a few minutes.
DOCUMENTS REQUIRED
- Aadhaar Card
- PAN Card
- Address verification: Visa, license to drive, ration card, electricity bill, and lease
- Income Documentation: Paystubs, Income Tax Returns, and Bank Accounts
- Cheques of your salary account
- Duly filled application form
- Passport-sized photos
ELIGIBILITY CRITERIA
- The candidate must only be a citizen of India.
- The candidate must be between the ages of 18 and 60.
- You will be required to provide details regarding your yearly income.
- Your bank account information must be provided.
- You shouldn’t have already taken out a loan from a different bank or a business.
- A 750 or better CIBIL score is required.
- A smartphone that is online is a requirement.
- The person using their Aadhar card to borrow money must likewise be able to pay it back in full.
AADHAR CARD LOAN APP
The application process for Aadhar Card Loan App is given below which should be followed:-
- The applicant has to first set up the Navi App on his mobile.
- After that, you have to enter your mobile number through which OTP will come into your mobile, and via that you have to register.
- After that, you have to upload some of your general information and KYC Documents in it.
- Then you have to wait for your Application Form Approval.
- After that cash will come into your account after your form is approved.
- You can ask for a loan in this manner.
Advantages of Using an Aadhar Card to Apply for a Personal Loan
- This one document serves as identification and proof of citizenship, address, age, and photo.
- Aadhar cards assist with the e-KYC procedure for online verification and speed up loan disbursement. Both customers and financial institutions benefit from the Aadhaar card’s simplified documentation process.
- Time and effort are saved because the loan processing process takes less time.
- The 12-digit UID number is sufficient in some circumstances; you don’t even need to present a duplicate of your Aadhar card.
FAQs
1. How much can I get the loan on an Aadhaar card?
ANS. Depending on your credit score, you may be able to get a loan on your Aadhar card for as little as Rs. 1,000 or as much as one lakh rupees.
The person using their Aadhar card to borrow money must likewise be able to pay it back in full.
2. An installment loan using an Aadhar card?
ANS. Yes. The Aadhar card loan qualifies as an installment loan because payments are paid in equal monthly installments.
3. Is it possible to use your Aadhar card to apply for a personal loan without a PAN card?
ANS. Yes. You can still apply for a loan using your Aadhaar card if you don’t have a PAN card. You might also need to present other documents, such as your voter ID card, passport, driver’s license, pay stubs, and so forth. Depending on the lender, different documents may be required.
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4. Can I apply online for an Aadhaar card loan of 50,000 rupees?
ANS. Your eligibility will be checked when you submit your online loan application with your Aadhaar card, and the loan will then be approved based on that information.
5. I have a 600 credit score. Can I get a loan using my Aadhaar card?
ANS. Most lenders need a credit score of at least 750 from prospective borrowers. Even with a credit score of 600, certain financial institutions may still approve your loan application.
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